Penrose Studios Raises Another $10 Million for VR Animation and Storytelling

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Having announced an $8.5 million seed investment back in March 2016, VR animation firm Penrose Studios is adding another $10 million to the pile for its Series A investment.

Led by TransLink Capital, the round also saw participation by SalesForce founder and CEO Marc Benioff, artist will.i.am, Korea Telecom, Co-Made, Sway Ventures, 8VC, and Suffolk Equity. The investment brings the company’s total fundraising to some $18.5 million.

Penrose says the investment will be used to grow the company and continue production of VR content and specialized tools for building VR films better and faster. While Penrose hasn’t yet revealed any AR content, the investment announcement hints that the studio is also looking in that direction.